Federated Hermes Premier Municipal Income Fund (NYSE:FMN) Short Interest Up 113.7% in June

Federated Hermes Premier Municipal Income Fund (NYSE:FMN) was the recipient of a large growth in short interest in the month of June. As of June 30th, there was short interest totaling 26,254 shares, a growth of 113.7% from the June 15th total of 12,284 shares. Based on an average daily volume of 24,794 shares, the short-interest ratio is presently 1.1 days.

Institutional Trading of Federated Hermes Premier Municipal Income Fund

A number of institutional investors have recently modified their holdings of FMN. Noble Wealth Management PBC grew its stake in Federated Hermes Premier Municipal Income Fund by 13.2% during the second quarter. Noble Wealth Management PBC now owns 43,250 shares of the company’s stock worth $497,000 after buying an additional 5,050 shares in the last quarter. Rivernorth Capital Management LLC raised its position in shares of Federated Hermes Premier Municipal Income Fund by 484.2% in the 1st quarter. Rivernorth Capital Management LLC now owns 146,927 shares of the company’s stock valued at $1,606,000 after buying an additional 121,777 shares in the last quarter. Bulldog Investors LLP bought a new stake in shares of Federated Hermes Premier Municipal Income Fund during the 1st quarter worth approximately $374,000. Scarborough Advisors LLC acquired a new stake in shares of Federated Hermes Premier Municipal Income Fund during the 1st quarter worth approximately $30,000. Finally, Bank of New York Mellon Corp boosted its position in shares of Federated Hermes Premier Municipal Income Fund by 601.0% during the 1st quarter. Bank of New York Mellon Corp now owns 101,531 shares of the company’s stock worth $1,110,000 after acquiring an additional 87,048 shares in the last quarter.

Federated Hermes Premier Municipal Income Fund Stock Down 0.1%

Shares of FMN traded down $0.01 during mid-day trading on Wednesday, hitting $11.39. 12,856 shares of the company’s stock were exchanged, compared to its average volume of 24,908. Federated Hermes Premier Municipal Income Fund has a 52 week low of $10.40 and a 52 week high of $11.76. The stock’s 50-day simple moving average is $11.29 and its 200-day simple moving average is $11.20.

Federated Hermes Premier Municipal Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Thursday, July 23rd will be paid a dividend of $0.045 per share. This represents a c) dividend on an annualized basis and a yield of 4.7%. The ex-dividend date is Thursday, July 23rd.

About Federated Hermes Premier Municipal Income Fund

Federated Hermes Premier Municipal Income Fund (NYSE: FMN) is a closed-end management investment company that seeks to provide a high level of current income exempt from regular federal income tax, consistent with the preservation of capital. The fund primarily invests in a diversified portfolio of municipal securities, including investment-grade bonds, pre-refunded municipal obligations, variable rate demand obligations and related instruments. It may also allocate a portion of its assets to cash equivalents and repurchase agreements for liquidity and duration management.

The fund’s portfolio emphasizes quality and creditworthiness, focusing on sectors such as transportation, utilities, education and healthcare.